Union lost almost five million euros last season: “But we have full confidence in the future”

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Union suffered a loss of 4,789,638.91 euros during the 2021-2022 season. The Brussels club announced this on Wednesday via the club website. “But the club has full confidence in the future.”

Jonas Withouck

“The excellent season from a sporting point of view has not yet resulted in a positive net financial result on June 30, 2022,” Union explains on the club website. “This was due to a number of factors: the limited capacity of our stadium, a natural increase in the sporting budget and the costs related to the good ranking and corresponding qualification for the UEFA Europa League.”

Confidence in the future

“This tax loss also increased the negative equity of the club. But the outlook is positive and the club has full confidence in the future. Partly thanks to last summer’s transfer window: more than 12 million euros came in with the sale of Casper Nielsen and Deniz Undav.

The income thanks to the good performance in the Europa League is also a boost. “The club is convinced that this new source of income will contribute to achieving positive operational results for the 2022-2023 financial year.”

Capital increase

And there is more good news: “Meanwhile, the shareholders decided to carry out a new capital increase in the amount of 9 million euros. Thanks to this increase, the club will again have positive equity for the first time since 2012. The capital increase has already been approved by the General Assembly and will be visible on the interim financial balance sheet dated 31/12/2022 and published before 14/02/2023 on the club’s website.”

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